How to buy Holo Crypto?
Crypto Knowledge

How to buy Holo Crypto?

written by John Murphy | December 6, 2022

Holo, short for Holochain crypto, is a unique idea challenging the centralization of the global internet. It aims to decentralize participating global servers in a peer-to-peer fashion. As a result, it will enable load distribution on multiple servers, thus helping with modern internet pitfalls about how to buy Holo Crypto?

The idea is likeable among the crypto ecosystem, as it is attracting suitable investments. Holo token or HOT exists in the form of an ERC20 token. However, its developers are planning to term it as Holo fuel since it is an “asset-backed mutual-credit crypto-accounting system.”

It will also support a complete departure from traditional blockchain structures that support most volatile cryptocurrencies. So, it is catching the eye as it revolutionizes the cryptocurrency framework. Thus many investors are searching for answers on how to buy Holo crypto.

This guide will walk you hand-in-hand through a series of steps to buy Holo crypto.

So, let us get started!

A step-by-step guide to buying Holo crypto

Here are straightforward steps to buy Holo crypto:

Step 1: Register on Fiat-to-Crypto Exchange

Firstly, you need to have an account with any exchange that accepts fiat money and returns Holo coins. There are numerous such exchanges available in the market. 

However, a crypto dealer’s selection is not easy to take, as numerous important factors need understanding. Unless you do not know your investment preferences, you will not find the proper Holo exchange for trading.

So, the following are a few key points to consider in an exchange before opting to open an account:

  • Holo crypto availability

First of all, check whether your desired exchange deals in Holo crypto because having an account with a broker who does not deal in Holo crypto is a waste of time.

  • Commission Fee

Few crypto dealers charge commission fees for their services. Knowing the exact amount of commission will help you choose an exchange with the lowest fees.

  • Security

Since digital assets are prone to scams, choosing a crypto exchange with the highest security level is key to keeping your coins safe. So, always choose a platform that has high-security features, although they may cost some extra money.

  • Reputation 

Since the cryptocurrency space is a relatively new industry, thus the reputation of the exchange is critical to avoid being a scam. A well-known crypto trader is a key to playing on safe ground.

Step 2: Depositing Payment

Once your account is open with your selected cryptocurrency exchange, the next step is to transfer fiat money to that account. You can easily make a transfer just as you transfer money to your friend’s account.

Additionally, all famous crypto traders accept payments through either of the below methods:

  • Through credit card (additional charges may apply)
  • By debit card
  • Direct bank transfer
  • Venmo or Paypal account

Usually, a direct bank deposit is preferred since other methods may take a day or two to reflect with your broker’s account. Additionally, it would help if you worry as you are transferring the amount to your crypto account and not the dealers.

Furthermore, make a petty amount transfer before initiating full payment; it will confirm everything is in the right place.

Also, check with your banker for APR rates regarding payments through a credit card. As banks consider such payments as cash withdrawals, thus you may have to pay extra interest payments on credit card transfers.

Similarly, we recommend making small transfers, as payments above $1,000 will take two days to reflect in your account.

Step 3: Buy Holo (HOT) cryptocurrency

How to buy Holo crypto? Well, here you are, then all set to buy Holo coins. 

Here is the step to place your Holo order:

  • Login to your account on a mobile app or web portal
  • Select Buy option
  • Add the number of Holo coins you want to buy, or you can select the value of fiat money you intend to spend
  • Check additional charges (commission, fees)
  • Click the Buy button once you are satisfied with your purchase details

There you have it! You can now be part of the Holo crypto family. Your fiat money is deducted, and Holo coins are deposited in your account.

Step 4: Storing Holo crypto

Work is still to be done because simply buying Holo crypto is enough if you keep them in a safe wallet. You will not like someone else enjoying your digital currency. So, keeping them safe is more important than buying them.

Although crypto dealers offer digital wallet facilities, these wallets are less secure than you would have liked. There are two main types of wallets to store your Holo coins.

Hot wallets: A digital wallet is always connected to an internet connection. It is not safe and is prone to hacking. However, they cost less. Most crypto exchanges offer hot wallets to their clients.

Cold wallets: A wallet is only connected to the internet when a transaction is desired. These are expensive compared to hot wallets in the form of USB sticks.

Frequently Asked Questions

Can I buy Holo cryptocurrency with a credit card?

You can buy Holo cryptocurrency with a credit card; however, banks will charge a higher APR as they treat such payments as advance cash payments.

Where can I buy Holo cryptocurrency?

All famous crypto dealers support trading Holo cryptocurrency; a few of them include:

  • Coinbase
  • KuCoin
  • Uphold

Do I have to pay tax on gains from Holo crypto?

Many countries, including the U.S., charge tax on gains from Holo crypto as it is treated as a capital gain.

What makes Holo unique?

Below are a few key features which make Holo coins unique:

  • It acts as a bridge between Holochain 
  • It enables P2P payments
  • Decentralizes internet servers
  • Transaction speed is swift

How many Holo coins are currently in circulation?

The current circulating supply of Holo (HOT) coins is 177.62B.

Parting Thoughts

The article cover answer to the question – how to buy Holo crypto?

However, investing in Holo responsibly is the message regarding cryptocurrency since it is a highly volatile market. Similarly, if you wish to test your luck with cryptos, we recommend having professional advice before investing.

Buying Holo crypto is simple; you can get your hands on it by opening an account with the exchange dealing with them. You can buy through fiat money and then store them in your digital wallet or your dealer’s wallet.

We wish you luck with your trade with Holo (HOT) cryptocurrency. Please leave your thoughts in the comments and let us know your experience trading with Holo.